Amazon surpassed both Apple and Google to clinchthe title of world's most valuable brand.

The e-commerce giant took the top spot in the BrandZ top 100 most valuable global brands list, with an estimated value of $315.5 billion, up 52% from the year before. The report, which was compiled by WPP and conducted by the research agency Kantar, utilizes a methodology that considers financial value, consumer perception, and brand equity. The report was released Tuesday.

"Amazon's phenomenal brand value growth of almost $108 billion in the last year demonstrates how brands are now less anchored to individual categories and regions," Doreen Wang, Kantar's global head of BrandZ, said in a statement. "The boundaries are blurring as technology fluency allow brands, such as Amazon, Google and Alibaba, to offer a range of services across multiple consumer touchpoints."

Technology, finance, and retail companies accounted for more than two-thirds of total brand value across the list. The study also found that luxury is one of the fastest growing sectors, "fueled by the shifting preferences to digital channels from Gen Y and Gen Z consumers."

Here's a closer look at the top 10 most valuable global brands:

10. AT&T

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AT&T benefited tremendously from the approval of the Time Warner acquisition, moving the company into the lucrative entertainment sector, where it now competes with the likes of Netflix and Disney.

9. McDonald's

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McDonald's has made major digital advancements to its ordering options, including implementing in-store kiosk screens and offering pre-ordering via its app.

8. Tencent

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Tencent was among 15 Chinese brands that ranked in the top 100 this year, buoyed by the continued strength of its WeChat brand.

7. Alibaba

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Alibaba continues to dominate the global e-commerce market, thanks in part to recent investments in technology to streamline customer service and shipping, as well as the ongoing growth of Singles' Day .

6. Facebook

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While Facebook faced widespread ire regarding its privacy and data sharing policies, it still reigned supreme among social platforms. Facebook's growth was largely driven by Instagram, which saw a 95% increase in value, doubling its 2018 performance and solidifying itself as the fastest growing brand in the world, according to the BrandZ report.

5. Visa

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Reuters

Visa continues to play an integral role in pushing consumers to a "cashless society" with features like new quick-tap cards that improve checkout times.

4. Microsoft

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Reuters

Microsoft's investment in advancing programs like Azure, its cloud computing service, seems to be paying off.

"Microsoft has a legacy physical presence in many businesses that it leverages as it attempts to transition clients to the cloud," Erik Haroldon, Kantar's SVP of client leadership, wrote in the BrandZ report.

3. Google

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Reuters

Despite being slammed with criticism over the last year including continued outcry over how the company responded to internal sexual harassment allegations Google is still the most-used search platform in the world.

2. Apple

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Reuters

Apple has worked to position itself "not as a device brand, but as a technology ecosystem with many branded devices and services," Dominic Sunnebo, Kantar's business unit and commercial director, wrote in the BrandZ report.

In the past year, it launched three new programs: a streaming service for original content, a news subscription service, and a gaming platform called Apple Arcade.

1. Amazon

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Amazon made major gains thanks to a savvy acquisition strategy, innovative revenue streams, and robust customer service programs that contributed to a brand value of $315.5 billion.